Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
THE NEWS FUNNEL
EINDHOVEN, Netherlands/NEW YORK, Nov 7 (Reuters) – Grocery group Ahold Delhaize will roll out small, automated warehouses to speed order picking and cut delivery times, Reuters has learned, as it revamps its ecommerce business in response to rising competition in a fast-growing sector.
THE NEWS FUNNEL
Each day, the world creates 2.5 quintillion bytes of data, with 90 percent of all existing data created over the past two years alone, according to IBM. For owners and managers of commercial real estate (CRE) properties, and especially the office sector, “big data” may offer great potential, but it also presents real challenges.
NATIONAL REAL ESTATE INVESTOR
Some commercial real estate observers might be a little worked up about how office REITs might be affected by WeWork and its co-working brethren. Yet is that consternation really warranted?
VENTURE BEAT
If you’ve ever tried to hail an Uber in the midst of a major sports event or during a torrential downpour, you may have noticed that the price you’re quoted is higher than normal. That’s all down to surge pricing, a mechanism that Uber has long employed to manage supply — and, yes, charge more money — when demand is high….
THE REAL DEAL
Not every co-working company is dropping monthly desk rentals for corporate office suites. These four startups in New York and beyond are sticking to the more traditional co-working model and carving out niche space — and there are plenty more out there with small margins and big plans.
BISNOW
Lawyer and cryptocurrency millionaire Jeffrey Berns wants to leave his mark on something more tangible than cryptocurrency-based deals. He wants to develop a brand-spanking-new city in the Nevada desert not far from metro Reno-Sparks. Berns’ company, Blockchains LLC, paid $170M in cash earlier this year for 67,000 largely undeveloped acres in Storey County, a site larger than Reno.
THE REAL DEAL
Premier Agent remains Zillow Group’s cash cow, but the lucrative ad program had a rocky quarter. Following a series of tweaks to the feature, Premier Agent’s third-quarter revenue fell short of Zillow’s own expectations, the company said Tuesday. More than 67 percent of the company’s earnings were tied to the program, where revenue grew 18 percent to $232.7 million. But the listings giant was targeting between $237 million and $239 million.
PR NEWSWIRE
CHICAGO, Nov. 1, 2018 /PRNewswire/ — Leap today announced the launch of its platform to enable digital brands to rapidly launch high impact experiential retail stores more quickly and without taking on the typical risks of physical store development themselves. Leap does this as they announce their first store opening in Chicago, for Koio, and the support of $3 million in Seed funding, led by Costanoa Ventures with the participation of Equal Ventures and Brand Foundry Ventures….
BISNOW
You could forgive office owners and developers for having sensor envy. Given the hype around smart buildings and the way that technology will change the workplace, and hence offices, it would be easy to think you need to have the smartest, most technologically advanced building to have any chance of finding a tenant in the future.
BISNOW
Convene, the flexible workspace and meeting firm, has made two hires in London as the first stage in a global expansion. The company, which counts Brookfield among its investors, has hired Elliott Sparsis and James Frankis as London vice president of real estate and London director of strategic solutions, respectively.
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